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$60,000 Online Degree: A Lesson In Digital Business
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BruceHarpham
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BruceHarpham,
User Rank: Apprentice
11/5/2014 | 12:19:59 PM
Charging premium for digital banking
There's an interesting point about digital banking. I think many banks would be hard pressed to show that these apps generate new revenue (I can certainly see the customer retention angle). 

Thanks for sharing this excellent example! Perhaps charging prices equivalent (or higher?) to traditional programs will also address the prejudice against online education.
impactnow
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impactnow,
User Rank: Ninja
7/1/2014 | 12:44:29 AM
Re: supply and demand
The professors did indicate the cladses took more time to develop than a traditional course, students are willing to pay so its unlikely the tuition will decrease soon.
Joe Stanganelli
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Joe Stanganelli,
User Rank: Ninja
6/30/2014 | 11:31:33 PM
Re: Econ 101
On top of that, it's marketing/publicity.  "Oh, UC-Berkeley has a $60k online degree program."  "Wow, really?  That's interesting."  And then maybe you start clicking around their website a bit more for a program you actually are interested in.

As for the online program itself, I see a certain benefit in it -- for example, someone who wants the prestige of having UC-Berkeley on their resume, but doesn't want to actually live in hippie central.  ;)
Joe Stanganelli
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Joe Stanganelli,
User Rank: Ninja
6/30/2014 | 11:28:31 PM
Re: College: An overpriced book club
@Sunita: Well, I think it's about having the "branded" piece of paper that says UC-Berkeley on it.  (Even edX won't give you that for free... They'll give you the education, but if you want the piece of paper/diploma, you gotta pay -- which just goes to show how scammy the higher education racket is.)

Better deal: Go to school in Europe.  Schools are dirt-cheap there.  Even with travel, room and board, and language lessons, you'll come out ahead.
jagibbons
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jagibbons,
User Rank: Ninja
6/30/2014 | 11:04:47 AM
Re: Econ 101
If you are first-to-market, like this program, you get the benefit of setting the price to see if the market will bear it. I can't blame UC Berkeley for cashing in while they can.
SunitaT0
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SunitaT0,
User Rank: Ninja
6/30/2014 | 3:27:50 AM
Re: Econ 101
Is the UC Berkeley program worth the cost?

@jagibbons, I dont think people are paying such heavy fees just because its UC Berkely. I think there are hardly any quality courses offered by other colleges in the field of Data science hence people are ready to pay any cost to get quality degree from quality institutes. Once other colleges start giving quality education in Data science i think the course fees will come down.
SunitaT0
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SunitaT0,
User Rank: Ninja
6/30/2014 | 3:23:44 AM
Re: supply and demand
The convenience of online reduces the costs for many because it offsets relocation costs.

@impactnow, valid point. But just because students are saving on relocation costs shouldn't encourage colleges to hike the fees. I think the price should be reasonable enough because college is not investing much on the infrastructure other than uploading the videos to the web.
SunitaT0
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SunitaT0,
User Rank: Ninja
6/30/2014 | 3:20:11 AM
Re: Econ 101
The price is justified because it is a prestigious school offering the degree?

I dont think 60000$ fees is justified just because degree is offered by prestigious school. Many other prestigious schools like MIT are offering education free and I see no reason why cost should kept so high.
SunitaT0
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SunitaT0,
User Rank: Ninja
6/30/2014 | 3:17:56 AM
Re: College: An overpriced book club
Alternatively, you could go to edX.org and get the same premium college education online for little to no cost whatsoever.

Very true. I think $60000 for online degree is very high. Other websites like coursera offers similar kind certified courses for much reasonable prices. I really wonder why people will pay 60000$ to get online degree ?
Joe Stanganelli
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Joe Stanganelli,
User Rank: Ninja
6/29/2014 | 10:56:49 PM
College: An overpriced book club
Alternatively, you could go to edX.org and get the same premium college education online for little to no cost whatsoever.

We are in an education bubble -- and that bubble is VERY close to bursting.
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